Plenty of retailers and supply chains are still suffering from stockouts. From cleaning products, to kettlebells, to appliances, to meat, retailers, manufacturers and suppliers are coming up short. Forecasts need fixing in a period of severe economic upheaval such as a pandemic–and this article in Supply Chain Dive (Sept. 8, 2020), has 4 ideas for making the changes.

Supply chain managers should plan more often. Companies normally planning on a monthly cycle should switch to every 2 weeks; those on a 2-week cycle should shift to weekly. As demands related to coronavirus mash up with those of the upcoming holiday season, it is critical to have more data points and more sophisticated methods around demand planning to account for some of that volatility and surprises.

Focus on core products and customers. Companies can learn from how home improvement retailers operate during natural disasters. Instead of trying to keep everything in stock, they focus on the most in-demand items. Several large brands and retailers have employed the core product tactic during the pandemic, cutting back SKUs and, in some cases, entire product lines.

Shift more manufacturing to the U.S. A domestic U.S. industrial company with 2-3 factories with 4-5 distribution centers has a lot more ability to flex up and add shifts, even with the new social distancing and safety measures that are required because of COVID.

Give something new a shot. If items are in short supply, and not coming back on board anytime soon, companies can try a new brand or a new product — maybe one they have considered bringing in. Those items may be easier to get, and customers are more likely to be receptive to having an alternative option rather than nothing at all.

Please and Thank You! Answer the following discussion questions:

Which of these would be most critical to a sports equipment manufacturer today?

How must forecast methods change?